Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (38522)	9/20/2003 10:23:17 PM
From: Haim R. Branisteanu	Read Replies (1) of 74559

Jay, thanks for the elaborate response. First of all if you noticed, I am not singling out China it was just easier to continue about China. The problem is and will remain the same - due to technological advances if in communication, manufacturing or transportation the place a widget is manufactured is not of major importance to it's quality as it was few generation ago. Further an flexible and global financial system removed the disadvantages of local currency financing. SO we ended up in a global village without preparation and with still very different concept of law and order in each neighborhood ....... and it does not work. The problem is as we both agree that devaluation of the Yuan will contribute nothing to solve the problem. Your suggestion of drastically lowering the standard of living in the western world to that of the average citizen in China or India or Indonesia is unrealistic. >>>What must happen is GoldUpDollarDown, possibly followed by global depression triggered by competitive devaluation and mutual protectionism.<<< if faced with this prediction then unfortunate my prediction may come true. W.W.II started exactly for the same reason run away inflation in Germany exported to other European countries and economic hardship. Keep in mind people do not evolve or change as fast as technology and the same instincts and despots will rule as it was in 1930. Being critical and blame the other side is very easy but what is your real solution to avoid yours or my prediction? As to democracy ....... well it is an utopian concept similar to communism as envisioned by is founders. As to the communist regime you refer is like referring to the inquisition of the dark ages as the face of Christianity. IMHO Asia populous countries must do much more to revive the standard of living of their own people much faster than the western countries. The world must get it's footing back. Russia was is in that stage but it is very difficult to compare as they are 1/10 of China population. China must do more than what you wrote much more reflected in fiscal and monetary stimulus or dissaster waits around the corner (few years) ..... and if you think smart financial move will save you my bet is that your accumulated gold will be taken away by lawless gangs roaming the globe ..... your nice home will be burned down and all your valuables confiscated for the good of the so called "nation" ..... as lawless power will rule ........ what would you prefer a lawless maoist or stalinist or fascist regime each with it's own strain of so called "cultural revolution"

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